Elliotts Estate Agencies Limited - Accounts to registrar (filleted) - small 18.2
Elliotts Estate Agencies Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2019 |
| for |
| ELLIOTTS ESTATE AGENCIES LIMITED |
| ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245) |
| Contents of the Financial Statements |
| for the year ended 31 December 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ELLIOTTS ESTATE AGENCIES LIMITED |
| Company Information |
| for the year ended 31 December 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Preston Park House |
| South Road |
| Brighton |
| East Sussex |
| BN1 6SB |
| BANKERS: |
| 125 Church Road |
| Hove |
| East Sussex |
| BN3 2AN |
| ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245) |
| Balance Sheet |
| 31 December 2019 |
| 2019 | 2018 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Capital redemption reserve |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245) |
| Balance Sheet - continued |
| 31 December 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245) |
| Notes to the Financial Statements |
| for the year ended 31 December 2019 |
| 1. | STATUTORY INFORMATION |
| Elliotts Estate Agencies Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| Preparation of the financial statements requires management to make significant judgements and estimates and |
| these estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates |
| are recognised in the period in which the estimate is revised if the revision affects only that period, or in the |
| period of the revision and future periods if the revision affects both current and future periods. |
| The items in the financial statements where these judgements and estimates have been made include the useful |
| economic life of tangible fixed assets, the depreciation of these assets, investments and the recoverability of |
| debtors. |
| Turnover |
| Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts. |
| Revenue is recognised when the sale of the property is completed. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and |
| accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating |
| as intended by management. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Improvements to property | - straight line over 10 years |
| Fixtures and fittings | - 10% on cost (previously 10% on reducing balance) |
| Computer equipment | - 33% on cost |
| Financial instruments |
| Financial liabilities and equity instruments are classified according to the substance of the contractual |
| arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of |
| the entity after deducting all of its financial liabilities. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Impairment |
| At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is |
| any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable |
| amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not |
| possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the |
| cash-generating unit to which the asset belongs. |
| Going concern |
| The director has agreed to support the company as necessary in the foreseeable future. The company therefore |
| continues to adopt the going concern basis in preparing its financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2019 |
| Additions |
| At 31 December 2019 |
| DEPRECIATION |
| At 1 January 2019 |
| Charge for year |
| At 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 31 December 2018 |
| ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2019 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1 January 2019 |
| Disposals | ( |
) |
| Revaluations |
| At 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 31 December 2018 |
| Cost or valuation at 31 December 2019 is represented by: |
| Other |
| investments |
| £ |
| Valuation in 2019 | 5,722 |
| Cost | 3,000 |
| 8,722 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2019 | 2018 |
| £ | £ |
| Within one year |
| Between one and five years |
| ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2019 |
| 9. | PROVISIONS FOR LIABILITIES |
| 2019 | 2018 |
| £ | £ |
| Deferred tax | 177 | 450 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2019 |
| Accelerated capital allowances | (273 | ) |
| Balance at 31 December 2019 |
| Deferred taxation has been calculated in these accounts using the expected future tax rate of 17%. However it is |
| now uncertain whether the planned reduction of the corporation tax rate to 17% as per Section 46 of the Finance |
| Act 2016 will occur. Using a rate of 19%, the current corporation tax rate, deferred taxation would be included |
| in these accounts at £198. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary B | £1 | 33 | 33 |
| Ordinary C | £1 | 33 | 33 |
| 66 | 66 |
| 11. | UNLAWFUL DISTRIBUTIONS |
| Under s830 of the Companies Act 2006 a company is prohibited from making a distribution except out of profits |
| available for this purpose. If at the time of the distribution the members know or have reasonable grounds for |
| knowing that a distribution is unlawful they are liable to repay it (or that part of it, as the case may be) to the |
| company in the event of a winding up as stipulated by s847 of the Companies Act 2006. |
| At the time the dividend was paid the directors were not aware that there were insufficient profits available for |
| distribution and the directors acknowledge that no further distributions can be made until there are sufficient |
| profits available for that purpose. |